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<br />., <br /> <br />(but not as a penalty) CONTRACTOR shall pay OWNER One hundred <br />fifty and No/100 dollars $ 150.00 ) <br />for each day that expires after the time specified in paragraph 3.1 <br />for Substantial Completion until the Work is substantially <br />complete. After Substantial Completion, if CONTRACTOR shall <br />neglect, refuse or fail to complete the remaining Work within the <br />Contract Time or any proper extension thereof granted by OWNER, <br />CONTRACTOR shall pay OWNER fifty and No/100 <br />dollars ($ 50.00 ) for each day that expires after the <br />time specified in paragraph 3.1 for completion and readiness for <br />final payment. <br /> <br />Article 5. PAYMENT PROCEDURES. <br /> <br />CONTRACTOR shall submit Applications for Payment in accordance with <br />Article 14 of the General Conditions. Applications for Payment <br />will be processed by ENGINEER as provided in the General <br />Conditions. <br /> <br />5.1 Progress Payments, OWNER shall make progress payments on <br />account of the Contract Price on the basis of CONTRACTOR's <br />Applications for Payment as recommended by ENGINEER, on or about <br />the last .day of each month during construction as provided below. <br />All Progress payments will be on the basis of the progress of the <br />Work measured by the schedule of values established in paragraph <br />2.9 of the General Conditions (and in the case of Unit Price Work <br />based on the number of units completed) or, in the event there is <br />no schedule of values, as provided in the General Requirements. <br /> <br />5.1.1 Prior to Substantial Completion, progress payments will be <br />made in an amount equal to the percentage indicated below, but, in <br />each case, less the aggregate of payments previously made and less <br />such amounts as ENGINEER shall determine, or OWNER may withhold, in <br />accordance with paragraph 14.7 of the General Conditions. <br /> <br />Ten Percent (10%) of Work Completed. <br /> <br />5.1.2 Upon Substantial Completion, in an amount sufficient to <br />increase total payments to CONTRACTOR to ninety-five percent (95%) <br />of the Contract Price, less such amounts as ENGINEER shall <br />determine; or OWNER maywithhold, in accordance with paragraph 14.7 <br />of the General Conditions. <br /> <br />5.2 Final Payment. Upon final completion and acceptance of the <br />Work in accordance with paragraph 14.13 of General Conditions, <br />OWNER shall pay the remainder of the Contract Price as recommended <br />by ENGINEER as provided in said paragraph 14.13. <br /> <br />, <br /> <br />Article 6. INTEREST <br /> <br />No interest will be paid to the CONTRACTOR on retained money unless <br /> <br />20 <br />